by RiskManager (not verified) - 17/01/2009 - 07:03
OPEC is an illegal cartel that by sitting on 80% of the worlds reserves (in secret save for Iraq where we see the reserves are triple the stated level) yet producing only 40% of the worlds output is a parasitic leach on the economic activity others engage in to earn their income.
All OPEC states should immediately have 100% duties imposed on ALL their imports until this cartel is ended.
Oil costs around $20 (now steel and other prices have fallen to normal again) to find and produce. It does not deserve a price of $75
I am lucky enough to have some fields. Why dont we have a hay cartel so I can get paid £200 a bale and spend my life contributing nothing, racing horses and employing mayfair prostitutes? Why not?
Todasy as developed countries become less oil dependent the burden of carrying these parasitic nations now falls on Chinese and Indian people earningt a dollar or two a day. Its amoral. Its time to smash OPEC for the simple reason it is wrong. Free Iraqis may decide to produce more oil btw. Idiots can the post rationalise that it was indeed "all about oil", just not in any sense that you ever meant it though
Comments (1)
cartels are illegal
OPEC is an illegal cartel that by sitting on 80% of the worlds reserves (in secret save for Iraq where we see the reserves are triple the stated level) yet producing only 40% of the worlds output is a parasitic leach on the economic activity others engage in to earn their income.
All OPEC states should immediately have 100% duties imposed on ALL their imports until this cartel is ended.
Oil costs around $20 (now steel and other prices have fallen to normal again) to find and produce. It does not deserve a price of $75
I am lucky enough to have some fields. Why dont we have a hay cartel so I can get paid £200 a bale and spend my life contributing nothing, racing horses and employing mayfair prostitutes? Why not?
Todasy as developed countries become less oil dependent the burden of carrying these parasitic nations now falls on Chinese and Indian people earningt a dollar or two a day. Its amoral. Its time to smash OPEC for the simple reason it is wrong. Free Iraqis may decide to produce more oil btw. Idiots can the post rationalise that it was indeed "all about oil", just not in any sense that you ever meant it though